Italy Inflation

Italy: Inflation stable in August

August 11, 2015

Consumer prices fell 0.1% in July over the previous month, which was in line with market expectations and the preliminary estimate released by the National Statistical Institute on 31 July. July’s print contrasted the 0.2% increase tallied in June and marked the lowest reading in six months. The mild decrease mainly reflected lower prices for fresh fruit and vegetables, which more than offset an increase in prices for transport. Inflation remained stable at June’s 0.2%.

Core consumer prices, which exclude more volatile categories, such as unprocessed food and energy, grew 0.3% in July over the previous month, which was above June’s 0.1% increase. Core inflation inched up from June’s 0.6% to 0.8% in July, thus reaching its highest value since May 2014. Finally, harmonized inflation increased by 0.3% in July, which mirrored June’s result.

FocusEconomics Consensus Forecast panelists expect inflation to average 0.2% in 2015, which is unchanged from last month’s projection. For 2016, panelists expect inflation to average 1.0%.

Author:Eric Denis , Economist

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The National Institute of Statistics’ (Istat) consumer confidence index declined to 114.3 points in November, down from October’s revised 116.0 points (previously reported: 116.1) and undershot market expectations of 116.4 points.
November’s reading reflected a deterioration in consumers’ assessments of the current general economic situation as well as in their expectations about the future general economic situation.